JXG, the parent company of the Janashakthi Group, Sri Lankan financial conglomerate comprising First Capital Holdings PLC, Janashakthi Insurance PLC, and Janashakthi Finance PLC, has announced the launch of its Initial Public Offering (IPO) of Rs. 5 billion.

JXG is offering 500 million ordinary shares at Rs. 10.00 per share, representing a 21.74% post‑IPO stake. The independent valuation by Deloitte Sri Lanka places JXG’s per‑share value at Rs. 15.92, positioning the IPO at a 37.18% discount to the valuation.

JXG intends to utilise a portion of the IPO proceeds to expand and diversify its financial services footprint through strategic entry and expansion across the General Insurance, Microfinance, and Non-Bank Financial Institutions (NBFI) sectors with an allocation of Rs. 3.5 billion. A further Rs. 500 million will support regional expansion initiatives outside Sri Lanka, within its three existing verticals of investment banking, NBFI, and insurance. Rs. 1 billion will be utilized to retire debt, optimize the capital structure and enhance financial flexibility.

The IPO is scheduled to open on 9 April. First Capital Advisory Services (Pvt.) Ltd. acts as the Manager and Financial Advisor to the issue.

JXG Group Chairperson Chandana De Silva said: “The launch of our IPO is a historic step in JXG’s journey. It provides the capital to expand our financial services, go global, and strengthen the balance sheet. Importantly, listing strengthens the commitment to transparency, accountability and governance to all stakeholders.”

JXG Managing Director/Group CEO Ramesh Schaffter, added: “Listing the parent company begins a new journey of growth, allowing us to expand overseas, broaden our financial services, and strengthen our market position. It provides an opportunity to grow and create lasting value for investors, employees, and communities.”